Financial services could be the leading industry that adopts the blockchain, but executives also see promises in areas like health, according to a PwC survey.
In recent years, industry and government stakeholders have supported efforts to use blockchain, a permanent and shared register of online transactions or exchanges, to simplify health operations. Unlike a traditional database centrally located and managed by a single party, a blockchain record is shared between a network of users.
To investigate the adoption of blockchain in all sectors, the consulting and auditing firm PwC interviewed 600 executives from various industries around the world. Most respondents – 84% – said that their organizations have at least some involvement with blockchain technology, even though only 15% live with a blockchain product beyond the pilot phase.
Here are seven important industries stacked when respondents were asked to select which sectors are the most advanced in the development of blockchain technologies:
1. Financial services: 46 percent
2. Industrial products and production: 12 percent
2. Energy and utility: 12 percent
4. Health: 11 percent
5. Government: 8 percent
6. Retail and consumer: 4 percent
7. Entertainment and media: 1 percent
Although executives see the potential in blockchain, they have cited many obstacles to the generalized adoption of technology. The main barriers include regulatory uncertainty (48%), lack of trust among users (45%) and ability to bring together a network (44%).
To download the PwC survey, click here
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